OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC)
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) reported 262 stock positions worth $3.5 billion. Its top holding was Kellanova (K) at 11.2% of the portfolio, followed by Walgreens Boots Alliance (WBA, 8.2%) and Skechers USA Class A (SKX, 6.5%). Compared with Q1 2025, it opened 111 new positions, sold out of 87, added to 49 and reduced 83. The biggest buy was a new position in Skechers USA Class A (SKX) and the biggest sale an exit from Discover Financial Services (DFS).
- Most Recent 13F
- Q4 2025
- Location
- CHICAGO, IL
- CIK
- 0001132716
- Portfolio Value
- $3.5B (Q2 2025)
- SEC Filing
- 0001132716-25-000019 ↗ filed Aug 14, 2025
Holdings Value
Holdings 262 stocks · $3.5B
| K Kellanova | 11.16% | 4,913,257 | $390.8M | Reduce -0.4% |
| WBA Walgreens Boots Alliance Inc. | 8.24% | 25,115,686 | $288.3M | Add +148.4% |
| SKX Skechers USA Inc. Class A | 6.49% | 3,598,177 | $227.0M | New |
| BPMC Blueprint Medicines Corp. | 6.28% | 1,713,587 | $219.6M | Add +11427.7% |
| FYBR Frontier Communications Pare | 6.27% | 6,029,490 | $219.5M | Add +14.8% |
| CHX Championx Corp. | 5.36% | 7,546,703 | $187.5M | Reduce -3.5% |
| ANSS Ansys Inc. | 4.95% | 492,829 | $173.1M | Reduce -1.5% |
| HES Hess Corp. | 4.18% | 1,055,429 | $146.2M | Reduce -63.8% |
| DNB Dun & Bradstreet Holdings Inc. | 3.55% | 13,678,842 | $124.3M | New |
| JNPR Juniper Networks Inc. | 3.42% | 3,000,000 | $119.8M | Reduce -52.0% |
| INFA Informatica Inc. Class A | 3.16% | 4,549,354 | $110.8M | New |
| SPR Spirit Aerosystems Hold Class A | 3.08% | 2,823,309 | $107.7M | Reduce -5.5% |
| LBRDK Liberty Broadband-C | 2.58% | 919,381 | $90.4M | New |
| SWTX Springworks Therapeutics Inc. | 1.86% | 1,385,517 | $65.1M | Add +3455.5% |
| COOP Mr Cooper Group Inc. | 1.85% | 435,000 | $64.9M | New |
| AMED Amedisys Inc. | 1.33% | 474,162 | $46.7M | Reduce -42.0% |
| ESGR Enstar Group Ltd. | 1.13% | 117,537 | $39.5M | Add +75.8% |
| NVDA Nvidia Corp. | 1.05% | 231,572 | $36.6M | Add +68.3% |
| IPG Interpublic Group of Cos Inc. | 0.70% | 1,000,000 | $24.5M | New |
| GMS GMS Inc. | 0.62% | 200,000 | $21.8M | New |
| SO The Southern Co. | 0.59% | 226,135 | $20.8M | Add +7.8% |
| OXY Occidental Petroleum Corp. | 0.56% | 466,400 | $19.6M | No change |
| CNP Centerpoint Energy Inc. | 0.55% | 524,615 | $19.3M | New |
| FL Foot Locker Inc. | 0.50% | 720,109 | $17.6M | New |
| MELI MercadoLibre Inc. | 0.49% | 6,528 | $17.1M | Add +45.7% |
| DUK Duke Energy Corp. | 0.49% | 144,040 | $17.0M | New |
| MAT Mattel Inc. | 0.48% | 843,229 | $16.6M | Reduce -13.0% |
| URI United Rentals Inc. | 0.34% | 15,850 | $11.9M | New |
| PNR Pentair PLC | 0.34% | 115,305 | $11.8M | Add +24.5% |
| DOV Dover Corp. | 0.32% | 61,100 | $11.2M | New |
| CLH Clean Harbors Inc. | 0.28% | 43,000 | $9.9M | New |
| ITUB Itau Unibanco H-Spon PRF ADR | 0.28% | 1,447,730 | $9.8M | Reduce -19.1% |
| NRG NRG Energy Inc. | 0.28% | 61,170 | $9.8M | Add +4.5% |
| APD Air Products & Chemicals Inc. | 0.28% | 34,475 | $9.7M | Reduce -1.5% |
| IR Ingersoll-Rand Inc. | 0.28% | 116,100 | $9.7M | Add +674.0% |
| ETR Entergy Corp. | 0.27% | 114,130 | $9.5M | Reduce -20.5% |
| AMZN Amazon.com Inc. | 0.27% | 43,190 | $9.5M | Reduce -10.6% |
| CCK Crown Holdings Inc. | 0.26% | 87,300 | $9.0M | New |
| FBIN Fortune Brands Innovations I | 0.25% | 167,475 | $8.6M | New |
| VMC Vulcan Materials Co. | 0.25% | 33,050 | $8.6M | Reduce -10.4% |
| CROX Crocs Inc. | 0.24% | 84,000 | $8.5M | New |
| PDD PDD Holdings Inc. | 0.24% | 80,143 | $8.4M | Add +89.5% |
| LX Lexinfintech Holdings L-ADR | 0.24% | 1,149,107 | $8.3M | Add +3.4% |
| CDNS Cadence Design SYS Inc. | 0.23% | 26,400 | $8.1M | New |
| AMD Advanced Micro Devices | 0.22% | 54,921 | $7.8M | Add +815.4% |
| UPS United Parcel Service Class B | 0.22% | 75,180 | $7.6M | Reduce -7.2% |
| CFLT Confluent Inc. Class A | 0.21% | 300,000 | $7.5M | New |
| AVGO Broadcom Inc. | 0.21% | 26,804 | $7.4M | Add +61.7% |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 0.21% | 85,555 | $7.3M | Add +38.0% |
| MS Morgan Stanley | 0.20% | 50,000 | $7.0M | New |
| LYV Live Nation Entertainment Inc. | 0.20% | 46,500 | $7.0M | New |
| VST Vistra Corp. | 0.19% | 34,975 | $6.8M | New |
| DAL Delta Air Lines Inc. | 0.19% | 135,148 | $6.6M | Add +21.6% |
| IP International Paper Co. | 0.19% | 140,600 | $6.6M | Reduce -25.5% |
| BTG B2GOLD Corp. | 0.18% | 1,784,416 | $6.4M | Reduce -7.2% |
| ULTA Ulta Beauty Inc. | 0.18% | 13,217 | $6.2M | New |
| NSC Norfolk Southern Corp. | 0.18% | 24,088 | $6.2M | Reduce -49.9% |
| FIVE Five Below | 0.17% | 45,000 | $5.9M | New |
| EMBJ Embraer SA-Spon ADR | 0.17% | 102,995 | $5.9M | Reduce -49.9% |
| NVT Nvent Electric PLC | 0.17% | 80,000 | $5.9M | New |
| BA The Boeing Co. | 0.17% | 27,675 | $5.8M | Reduce -18.6% |
| FLYYQ Spirit Aviation Holdings Inc. | 0.16% | 1,156,492 | $5.8M | New |
| LIN Linde PLC | 0.16% | 12,170 | $5.7M | Reduce -54.4% |
| AMAT Applied Materials Inc. | 0.16% | 30,000 | $5.5M | New |
| INTC Intel Corp. | 0.16% | 244,210 | $5.5M | New |
| SHW The Sherwin-Williams Co. | 0.15% | 15,800 | $5.4M | Reduce -30.9% |
| IWM iShares Russell 2000 ETF | 0.15% | 25,000 | $5.4M | New |
| TTAN Servicetitan Inc. Class A | 0.15% | 50,000 | $5.4M | New |
| HON Honeywell International Inc. | 0.15% | 22,636 | $5.3M | Reduce -2.6% |
| WAB Wabtec Corp. | 0.15% | 25,030 | $5.2M | New |
| ARCO Arcos Dorados Holdings Inc. Class A | 0.15% | 661,072 | $5.2M | Add +12.0% |
| GTEN Gores Holdings X Inc. Class A | 0.15% | 500,000 | $5.1M | New |
| CYH Community Health Systems Inc. | 0.15% | 1,500,000 | $5.1M | Add +20.0% |
| INTR Inter & Co. Inc. Class A | 0.14% | 682,166 | $5.1M | Reduce -21.5% |
| MRLN Merlin Inc. filed as BLEICHROEDER ACQUISITION COR | 0.13% | 450,000 | $4.6M | New |
| FOUR SHIFT4 Payments Inc. Class A | 0.13% | 46,775 | $4.6M | New |
| PAGS Pagseguro Digital Ltd. Class A | 0.12% | 438,078 | $4.2M | New |
| BEAG Bold Eagle Acquisition Cor-A | 0.12% | 400,000 | $4.2M | New |
| TVA Texas Ventures Acquisition-A | 0.12% | 400,000 | $4.0M | New |
| BTI British American Tob-SP ADR | 0.11% | 82,631 | $3.9M | New |
| ODFL Old Dominion Freight Line | 0.11% | 23,320 | $3.8M | New |
| DLTR Dollar Tree Inc. | 0.11% | 38,000 | $3.8M | Add +155.0% |
| NOC Northrop Grumman Corp. | 0.11% | 7,500 | $3.7M | New |
| TEVA Teva Pharmaceutical-SP ADR | 0.11% | 223,596 | $3.7M | Add +121.8% |
| ECVT Ecovyst Inc. | 0.11% | 450,000 | $3.7M | New |
| PONY Pony AI Inc. | 0.11% | 279,208 | $3.7M | New |
| TECK Teck Resources Ltd.-CLS B | 0.10% | 90,000 | $3.6M | New |
| ANSC Agriculture & Natural Soluti | 0.10% | 334,160 | $3.6M | No change |
| XYF X Financial-ADR filed as X FINL | 0.10% | 205,614 | $3.6M | Add +31.2% |
| CCO Clear Channel Outdoor Holdin | 0.10% | 3,000,000 | $3.5M | New |
| FAC Factorial Energy Inc. filed as CARTESIAN GROWTH CORP III | 0.09% | 331,000 | $3.3M | New |
| GMAB Genmab A/S -SP ADR | 0.09% | 158,719 | $3.3M | Add +120.8% |
| GLOB Globant SA | 0.09% | 35,927 | $3.3M | Add +18.4% |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 0.09% | 40,000 | $3.2M | New |
| IONS Ionis Pharmaceuticals Inc. | 0.09% | 81,251 | $3.2M | Reduce -10.5% |
| VALE Vale SA-SP ADR | 0.09% | 327,259 | $3.2M | No change |
| BBAR Bbva Argentina SA-ADR filed as BANCO BBVA ARGENTINA S A | 0.09% | 192,490 | $3.2M | New |
| BAP Credicorp Ltd. | 0.09% | 14,076 | $3.1M | Add +69.4% |
| META Meta Platforms Inc. Class A | 0.09% | 4,238 | $3.1M | New |
| DXCM Dexcom Inc. | 0.09% | 35,668 | $3.1M | Reduce -0.5% |
Options reported separately and not counted above: AAL puts ($4.4M), LCID puts ($2.6M), MGNI calls ($1.9M), CROX calls ($1.2M), HTZ puts ($1.2M), MAT calls ($985K), F puts ($868K), HOG puts ($841K), RIG puts ($766K), CC puts ($638K), SPY puts ($628K), VISN calls ($578K), and 67 more.
Other holdings (26): bonds, preferreds, convertibles and warrants · $161.9M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| PELOTON INTERACTIVE INC (PTON 0 02/15/26) | NOTE 2/1 · principal | 27,352,000 | $26.4M | No change |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 22,500,000 | $25.7M | Add +50.0% |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 17,500,000 | $19.2M | New |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 16,000,000 | $16.1M | New |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 15,000,000 | $15.9M | New |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | 17,000,000 | $15.3M | Add +750.0% |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 10,000,000 | $15.2M | No change |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | 10,000,000 | $10.1M | New |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 9,500,000 | $9.2M | Add +26.7% |
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | 412,214 | $3.3M | New |
| BEYOND MEAT INC (BYND 0 03/15/27) | NOTE 3/1 · principal | 29,000,000 | $2.5M | No change |
| STRATEGY INC (MSTR 8 PERP) | SERIES A PERP PF | 20,000 | $2.4M | No change |
| EVLVW Evolv Technologies -CW26 | *W EXP 07/16/202 | 463,341 | $259K | No change |
| BEAGR Bold Eagle Acquisition Corp. | RIGHT 10/11/2029 | 400,000 | $122K | No change |
| BACQR Inflection Point Acquisition | RIGHT 11/04/2026 | 250,000 | $81K | New |
| DAICW Cid Holdco Inc. -26 | *W EXP 12/31/202 | 282,640 | $21K | New |
| TVGNW Semper Paratus Acqu -CW26 | *W EXP 02/14/202 | 181,387 | $12K | No change |
| XAGEW Alpha Healthcare Acquis-CW27 | *W EXP 07/12/202 | 371,250 | $11K | No change |
| RMCOW American Acq Class A -CW26 | *W EXP 10/31/202 | 221,686 | $7K | No change |
| BRLSW Oxus Acquisition Corp. -CW23 | *W EXP 02/07/202 | 70,030 | $6K | No change |
| FASWF Stonebridge Acquisition-CW23 | *W EXP 04/02/202 | 135,667 | $6K | No change |
| BNAIW Brand Engagement Netwo -CW27 | *W EXP 03/14/202 | 150,251 | $5K | No change |
| MSAIW Sportsmap Tech Acq -CW27 | *W EXP 12/19/202 | 142,585 | $4K | No change |
| RDZNW Vahanna Tech Edge -CW24 | *W EXP 11/30/202 | 65,696 | $3K | No change |
| OPTXW Omnilit Acquisition Class A -23 | *W EXP 99/99/999 | 32,034 | $3K | No change |
| BSLKW Golden Arrow Merger A -CW26 | *W EXP 08/13/202 | 110,914 | $2K | No change |
Total filed on the 13F, all lines: $3.7B.
Portfolio Sells Q1 2025 → Q2 2025
| DFS Discover Financial Services | Sold out | 0.00% | −9.91 |
| ITCI Intra-Cellular Therapies Inc. | Sold out | 0.00% | −9.91 |
| HES Hess Corp. | Reduce -63.8% | 4.18% | −7.12 |
| BECN Beacon Roofing Supply Inc. | Sold out | 0.00% | −4.73 |
| BERY Berry Global Group Inc. | Sold out | 0.00% | −3.32 |
| HEES H&E Equipment Services Inc. | Sold out | 0.00% | −2.50 |
| JWN Nordstrom Inc. | Sold out | 0.00% | −2.35 |
| JNPR Juniper Networks Inc. | Reduce -52.0% | 3.42% | −2.07 |
| X United States Steel Corp. | Sold out | 0.00% | −1.29 |
| ML Moneylion Inc. | Sold out | 0.00% | −0.92 |
| RSG Republic Services Inc. | Sold out | 0.00% | −0.52 |
| AMED Amedisys Inc. | Reduce -42.0% | 1.33% | −0.51 |
| CNI Canadian Natl Railway Co. | Sold out | 0.00% | −0.32 |
| XEL Xcel Energy Inc. | Sold out | 0.00% | −0.31 |
| CHX Championx Corp. | Reduce -3.5% | 5.36% | −0.30 |
| CCRN Cross Country Healthcare Inc. | Sold out | 0.00% | −0.29 |
| NI Nisource Inc. | Sold out | 0.00% | −0.27 |
| GPK Graphic Packaging Holding Co. | Sold out | 0.00% | −0.26 |
| CRH CRH PLC | Sold out | 0.00% | −0.24 |
| SARO Standardaero Inc. | Sold out | 0.00% | −0.19 |
| APH Amphenol Corp. Class A | Sold out | 0.00% | −0.19 |
| CACI Caci International Inc. Class A | Sold out | 0.00% | −0.19 |
| GTES Gates Industrial Corp. UK Ltd. | Reduce -82.8% | 0.06% | −0.18 |
| EQC Equity Commonwealth | Sold out | 0.00% | −0.16 |
| FTV Fortive Corp. | Sold out | 0.00% | −0.14 |
| LIN Linde PLC | Reduce -54.4% | 0.16% | −0.14 |
| FUTU Futu Holdings Ltd.-ADR | Sold out | 0.00% | −0.14 |
| MA Mastercard Inc. Class A | Sold out | 0.00% | −0.12 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.11 |
| RENEF Cartesian Growth Corp. II- A | Sold out | 0.00% | −0.10 |
| CCIXU Churchill Capital Corp. Ix | Sold out | 0.00% | −0.10 |
| NSC Norfolk Southern Corp. | Reduce -49.9% | 0.18% | −0.10 |
| KMI Kinder Morgan Inc. | Sold out | 0.00% | −0.10 |
| STLD Steel Dynamics Inc. | Sold out | 0.00% | −0.10 |
| LHX L3HARRIS Technologies Inc. | Sold out | 0.00% | −0.10 |
| CMC Commercial Metals Co. | Sold out | 0.00% | −0.10 |
| AMX America Movil Sab DE CV | Sold out | 0.00% | −0.09 |
| OPTU Optimum Communications Inc. Class A | Sold out | 0.00% | −0.08 |
| HUBB Hubbell Inc. | Sold out | 0.00% | −0.07 |
| BZ Kanzhun Ltd. - ADR | Sold out | 0.00% | −0.07 |
| APTV Aptiv PLC | Sold out | 0.00% | −0.07 |
| EMBJ Embraer SA-Spon ADR | Reduce -49.9% | 0.17% | −0.06 |
| EWZ iShares MSCI Brazil ETF | Sold out | 0.00% | −0.06 |
| MLACU Mountain Lake Acquisition Co. | Sold out | 0.00% | −0.06 |
| POOL Pool Corp. | Sold out | 0.00% | −0.06 |
| LPLA LPL Financial Holdings Inc. | Sold out | 0.00% | −0.06 |
| CRM Salesforce Inc. | Sold out | 0.00% | −0.06 |
| IP International Paper Co. | Reduce -25.5% | 0.19% | −0.06 |
| BDX Becton Dickinson and Co. | Reduce -34.6% | 0.07% | −0.05 |
| TW Tradeweb Markets Inc. Class A | Sold out | 0.00% | −0.05 |
Portfolio Buys Q1 2025 → Q2 2025
| SKX Skechers USA Inc. Class A | New | 6.49% | +6.49 |
| BPMC Blueprint Medicines Corp. | Add +11427.7% | 6.28% | +6.24 |
| WBA Walgreens Boots Alliance Inc. | Add +148.4% | 8.24% | +5.49 |
| DNB Dun & Bradstreet Holdings Inc. | New | 3.55% | +3.55 |
| INFA Informatica Inc. Class A | New | 3.16% | +3.16 |
| LBRDK Liberty Broadband-C | New | 2.58% | +2.58 |
| COOP Mr Cooper Group Inc. | New | 1.85% | +1.85 |
| SWTX Springworks Therapeutics Inc. | Add +3455.5% | 1.86% | +1.82 |
| FYBR Frontier Communications Pare | Add +14.8% | 6.27% | +1.69 |
| IPG Interpublic Group of Cos Inc. | New | 0.70% | +0.70 |
| NVDA Nvidia Corp. | Add +68.3% | 1.05% | +0.68 |
| GMS GMS Inc. | New | 0.62% | +0.62 |
| ESGR Enstar Group Ltd. | Add +75.8% | 1.13% | +0.59 |
| CNP Centerpoint Energy Inc. | New | 0.55% | +0.55 |
| FL Foot Locker Inc. | New | 0.50% | +0.50 |
| DUK Duke Energy Corp. | New | 0.49% | +0.49 |
| URI United Rentals Inc. | New | 0.34% | +0.34 |
| DOV Dover Corp. | New | 0.32% | +0.32 |
| CLH Clean Harbors Inc. | New | 0.28% | +0.28 |
| MELI MercadoLibre Inc. | Add +45.7% | 0.49% | +0.28 |
| CCK Crown Holdings Inc. | New | 0.26% | +0.26 |
| IR Ingersoll-Rand Inc. | Add +674.0% | 0.28% | +0.25 |
| FBIN Fortune Brands Innovations I | New | 0.25% | +0.25 |
| CROX Crocs Inc. | New | 0.24% | +0.24 |
| CDNS Cadence Design SYS Inc. | New | 0.23% | +0.23 |
| CFLT Confluent Inc. Class A | New | 0.21% | +0.21 |
| AMD Advanced Micro Devices | Add +815.4% | 0.22% | +0.21 |
| MS Morgan Stanley | New | 0.20% | +0.20 |
| LYV Live Nation Entertainment Inc. | New | 0.20% | +0.20 |
| VST Vistra Corp. | New | 0.19% | +0.19 |
| ULTA Ulta Beauty Inc. | New | 0.18% | +0.18 |
| FIVE Five Below | New | 0.17% | +0.17 |
| NVT Nvent Electric PLC | New | 0.17% | +0.17 |
| FLYYQ Spirit Aviation Holdings Inc. | New | 0.16% | +0.16 |
| AMAT Applied Materials Inc. | New | 0.16% | +0.16 |
| INTC Intel Corp. | New | 0.16% | +0.16 |
| IWM iShares Russell 2000 ETF | New | 0.15% | +0.15 |
| TTAN Servicetitan Inc. Class A | New | 0.15% | +0.15 |
| WAB Wabtec Corp. | New | 0.15% | +0.15 |
| GTEN Gores Holdings X Inc. Class A | New | 0.15% | +0.15 |
| NRG NRG Energy Inc. | Add +4.5% | 0.28% | +0.14 |
| AVGO Broadcom Inc. | Add +61.7% | 0.21% | +0.14 |
| PNR Pentair PLC | Add +24.5% | 0.34% | +0.14 |
| MRLN Merlin Inc. | New | 0.13% | +0.13 |
| FOUR SHIFT4 Payments Inc. Class A | New | 0.13% | +0.13 |
| SO The Southern Co. | Add +7.8% | 0.59% | +0.12 |
| PAGS Pagseguro Digital Ltd. Class A | New | 0.12% | +0.12 |
| BEAG Bold Eagle Acquisition Cor-A | New | 0.12% | +0.12 |
| PDD PDD Holdings Inc. | Add +89.5% | 0.24% | +0.12 |
| TVA Texas Ventures Acquisition-A | New | 0.12% | +0.12 |
Options Activity Q1 2025 → Q2 2025
| AAL American Airlines Group Inc. | put | Add +14.7% | 10,810,000 | $4.4M |
| LCID Lucid Group Inc. | put | Add +4.4% | 2,965,100 | $2.6M |
| MGNI Magnite Inc. | call | Add +303.7% | 432,000 | $1.9M |
| TLT iShares 20+ Year Treasury BD | call | Sold out | 1,650,000 | $1.7Mbefore exit |
| CROX Crocs Inc. | call | New | 125,000 | $1.2M |
| XRX Xerox Holdings Corp. | put | Sold out | 278,300 | $1.2Mbefore exit |
| MAT Mattel Inc. | call | New | 355,000 | $985K |
| F Ford Motor Co. | put | Add +373.1% | 924,900 | $868K |
| HOG Harley-Davidson Inc. | put | Add +56.3% | 375,000 | $841K |
| RIG Transocean Ltd. | put | Add +10.0% | 883,400 | $766K |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +124.1% | 190,500 | $628K |
| VISN Vistance Networks Inc. | call | Add +22.2% | 550,000 | $578K |
| META Meta Platforms Inc. Class A | put | Sold out | 16,000 | $452Kbefore exit |
| XLI SS Industrial Select Sector | put | Sold out | 113,500 | $361Kbefore exit |
| FOUR SHIFT4 Payments Inc. Class A | call | New | 35,000 | $354K |
| MRVL Marvell Technology Inc. | call | New | 75,000 | $341K |
| SWTX Springworks Therapeutics Inc. | put | Sold out | 45,000 | $315Kbefore exit |
| REPL Replimune Group Inc. | call | New | 169,000 | $308K |
| IWM iShares Russell 2000 ETF | call | New | 105,000 | $288K |
| AAPL Apple Inc. | call | New | 74,000 | $279K |
| RARE Ultragenyx Pharmaceutical Inc. | call | New | 60,000 | $238K |
| CLMT Calumet Inc. | put | New | 175,000 | $234K |
| FSLR First Solar Inc. | call | New | 15,000 | $189K |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | New | 500,000 | $173K |
| IWM iShares Russell 2000 ETF | put | Sold out | 45,000 | $172Kbefore exit |
| EWTX Edgewise Therapeutics Inc. | put | Sold out | 45,000 | $169Kbefore exit |
| UAL United Airlines Holdings Inc. | put | New | 87,500 | $165K |
| GLD SPDR Gold Shares | call | New | 31,500 | $154K |
| XBI SS SPDR S&P Biotech ETF | put | Reduce -47.5% | 105,000 | $149K |
| RIG Transocean Ltd. | call | New | 400,000 | $140K |
| INSM Insmed Inc. | put | New | 27,000 | $138K |
| QURE Uniqure NV | call | Add +23.1% | 80,000 | $124K |
| QQQ Invesco QQQ Trust Series 1 | put | Add +25.0% | 20,000 | $117K |
| PTON Peloton Interactive Inc. Class A | put | Add +37.7% | 400,000 | $114K |
| TLT iShares 20+ Year Treasury BD | put | New | 600,000 | $102K |
| INSP Inspire Medical Systems Inc. | put | New | 10,000 | $86K |
| CCL Carnival Corp. | put | Sold out | 120,000 | $83Kbefore exit |
| SLNO Soleno Therapeutics Inc. | call | Reduce -33.3% | 10,000 | $75K |
| IRM Iron Mountain Inc. | put | New | 25,000 | $70K |
| XBI SS SPDR S&P Biotech ETF | call | New | 70,000 | $67K |
| AER Aercap Holdings NV | call | Sold out | 112,500 | $59Kbefore exit |
| ALKS Alkermes PLC | put | New | 25,000 | $58K |
| AES AES Corp. | call | Sold out | 150,000 | $53Kbefore exit |
| INCY Incyte Corp. | call | Reduce -36.4% | 35,000 | $50K |
| CAPR Capricor Therapeutics Inc. | put | New | 33,000 | $44K |
| XLV SS Health Care Select Sector | put | New | 70,000 | $41K |
| CE Celanese Corp. | call | Sold out | 70,000 | $40Kbefore exit |
| SLNO Soleno Therapeutics Inc. | put | Reduce -33.3% | 12,000 | $40K |
| BPMC Blueprint Medicines Corp. | put | Sold out | 10,000 | $31Kbefore exit |
| BIIB Biogen Inc. | call | New | 20,000 | $30K |
Showing the first 50 of 72.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2025 → Q2 2025
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | Add +50.0% | 22,500,000 | $25.7M |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | New | 17,500,000 | $19.2M |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | New | 16,000,000 | $16.1M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | New | 15,000,000 | $15.9M |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | Add +750.0% | 17,000,000 | $15.3M |
| FUBOTV INC (FUBO 3.25 02/15/26) | NOTE 3.250% 2/1 · principal | Sold out | 13,500,000 | $13.0Mbefore exit |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | New | 10,000,000 | $10.1M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | Add +26.7% | 9,500,000 | $9.2M |
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | New | 412,214 | $3.3M |
| INFINERA CORP (INFN 3.75 08/01/28) | NOTE 3.750% 8/0 · principal | Sold out | 1,250,000 | $1.6Mbefore exit |
| BACQR Inflection Point Acquisition | RIGHT 11/04/2026 | New | 250,000 | $81K |
| Colombier Acquisition - 29 | *W EXP 11/24/202 | Sold out | 90,000 | $69Kbefore exit |
| KDKRW Ares Acquisition Corp. II-28 | *W EXP 99/99/999 | Sold out | 82,711 | $24Kbefore exit |
| DAICW Cid Holdco Inc. -26 | *W EXP 12/31/202 | New | 282,640 | $21K |
| AENTW Adara Acquisition Class A -CW26 | *W EXP 02/11/202 | Sold out | 60,000 | $13Kbefore exit |
| REEWF Cartesian Growth Corp. II -28 | *W EXP 07/12/202 | Sold out | 118,982 | $7Kbefore exit |
| IVAWF Investcorp India Acquisi -27 | *W EXP 06/01/202 | Sold out | 209,630 | $5Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q4 2025Amended | 175 | $3.6B | CYBR, GTLS, CMA, DAY, RNAM |
| Q3 2025Amended | 189 | $3.1B | CYBR, VRNA, K, GTLS, FYBR |
| Q2 2025Amended | 262 | $3.5B | K, WBA, SKX, BPMC, FYBR |
| Q1 2025Amended | 239 | $4.1B | HES, DFS, ITCI, K, CHX |
| Q4 2024Amended | 312 | $3.9B | HES, JNPR, K, HCP, SMAR |
| Q3 2024Amended | 367 | $3.9B | HES, K, CTLT, HCP, JNPR |
| Q2 2024Amended | 385 | $3.3B | HES, JNPR, HCP, CTLT, ETRN |
| Q1 2024Amended | 370 | $3.2B | PXD, HES, JNPR, X, CERE |